Abuja, April 15, 2025 – Nigeria’s headline inflation rate rose to 24.23% in March from 23.18% in February 2025.
The Nigeria Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) released on Tuesday.
According to the NBS, there has been a sustained rise in the inflation rate in the country.
“In March 2025, the Headline inflation rate rose to 24.23 per cent relative to the February 2025 headline inflation rate of 23.18 per cent.
“ Looking at the movement, the March 2025 Headline inflation rate showed an increase of 1.05 per cent compared to the February 2025 Headline inflation rate.
“Furthermore, on a month-on-month basis, the Headline inflation rate in March 2025 was 3.90 per cent, which was 1.85 per cent higher than the rate recorded in February 2025 (2.04 per cent).
“This means that in March 2025, the rate of increase in the average price level is higher than the rate of increase in the average price level in February 2025.”
The NBS attributed the major drivers of the year-on-year inflation rate to food and non-alcoholic beverages, which it said, contributed 9.28 percentage points and followed by restaurants and accommodation services (2.99 per cent), transport (2.47 per cent), and housing, water, electricity, gas, and other fuels (1.95 per cent).
Food inflation stood at 21.79 per cent in March, up from 20.01 per cent in February, while core inflation, which excludes prices of volatile agricultural produce and energy, stood at 24.43 per cent year-on-year.
